It has also loosened the criteria for its Platinum secured loan products.
The changes include an increase in the maximum advance of the loan to £125,000 from £100,000 and a reduction in rates for employed applicants by 1%.
The debt to income ratio for employed applicants has also been increased to 42.5% and the minimum risk score has been increased from 425 to 450.
Maeve Ward, head of sales, secured lending at Shawbrook Bank, said: “Brokers lie at the heart of Shawbrook’s operations and we are very committed to listening to their feedback. We are confident that the new product features will helps us support the renaissance of the secured loan market.”
